Money Advice from Benjamin Franklin’s Way to Wealth

Most of the financial advice you get around the web is based on opportunity. People are always looking for the newest way to earn cash for the least amount of work. It’s no surprise most people struggle to build wealth, jumping from one opportunity to the next, wondering why nothing ever works.

The principles that build wealth haven’t changed for centuries. These 78 maxims, gleaned from Benjamin Franklin’s Way to Wealth, contain all the wisdom needed to amass a fortune. Unfortunately, it’s still going to take hard work, intelligence, and discipline.

Industry (1-39) – Energetic devotion to a task or an endeavor; diligence.

1. Early to bed, and early to rise, makes a man healthy, wealthy and wise
2. Diligence is the mother of good luck
3. God helps them that help themselves
4. Sloth, like rust, consumes faster than labor wears, while the used key is always bright
5. Dost thou love life, then do not squander time, for that’s the stuff life is made of
6. Lost time is never found again
7. He that riseth late, must trot all day, and shall scarce overtake his business at night
8. Drive thy business, let not that drive thee
9. Industry need not wish
10. He that lives upon hope will die fasting
11. There are no gains, without pains
12. Plough deep, while sluggards sleep, and you shall have corn to sell and to keep
13. One today is worth two tomorrows
14. Have you somewhat to do tomorrow, do it today
15. Be ashamed to catch yourself idle
16. Let not the sun look down and say, inglorious here he lies
17. He that hath a trade hath an estate
18. He that hath a calling hath an office of profit and honor
19. At the working man’s house hunger looks in, but dares not enter
20. For industry pays debts, while despair encreaseth them
21. Constant dropping wears away stones
22. By diligence and patience the mouse ate in two the cable
23. Little strokes fell great oaks
24. Employ thy time well if thou meanest to gain leisure
25. Since thou art not sure of a minute, throw not away an hour
26. A life of leisure and a life of laziness are two things. Do you imagine that sloth will afford you more comfort than labor?
27. Trouble springs from idleness, and grievous toil from needless ease.
28. Many without labor would live by their wits only, but they break for want of stock
29. Industry gives comfort, and plenty, and respect: fly pleasures, and they’ll follow you
30. Keep the shop, and thy shop will keep thee
31. If you would have your business done, go; if not, send
32. He that by the plough would thrive, Himself must either hold or drive.
33. The eye of a master will do more work than both his hands
34. Want of care does us more damage than want of knowledge
35. Not to oversee workmen is to leave them your purse open
36. In the affairs of this world men are saved not by faith, but by the want of it
37. Learning is to the studious, and riches to the careful, as well as power to the bold, and Heaven to the virtuous
38. If you would have a faithful servant, and one that you like, serve yourself
39. For want of a nail the shoe was lost; for want of a shoe the horse was lost, and for want of a horse the rider was lost

Frugality (40-78) – Prudent economy; that careful management of anything valuable which expends nothing unnecessarily, and applies what is used to a profitable purpose; thrift; — opposed to extravagance.

1. A man may, if he knows not how to save as he gets, keep his nose all his life to the grindstone, and die not worth a groat at last
2. Beware of little expenses; a small leak will sink a great ship
3. Buy what thou hast no need of, and before long thou shalt sell thy necessaries
4. A fat kitchen makes a lean will
5. Many estates are spent in the getting, Since women for tea forsook spinning and knitting, And men for punch forsook hewing and splitting.
6. Think of saving as well as of getting: the Indies have not made Spain rich, because her outgoes are greater than her incomes
7. Women and wine, game and deceit, Make the wealth small, and the wants great.
8. What maintains one vice, would bring up two children
9. Who dainties love, shall beggars prove
10. Fools make Feasts, and wise men eat them
11. Buy what thou hast no need of, and before long thou shalt sell thy necessaries
12. Wise men learn by others’ harms, fools scarcely by their own
13. Silks and satins, scarlet and velvets, put out the kitchen fire
14. A ploughman on his legs is higher than a gentleman on his knees
15. Always taking out of the meal-tub, and never putting in, soon comes to the bottom
16. When the well’s dry, they know the worth of water
17. If you would know the value of money, go and try to borrow some
18. He that goes a borrowing goes a sorrowing
19. Fond pride of dress, is sure a very curse; E’er fancy you consult, consult your purse.
20. Pride is as loud a beggar as want, and a great deal more saucy.
21. When you have bought one fine thing you must buy ten more, that your appearance maybe all of a piece
22. Tis easier to suppress the first desire than to satisfy all that follow it
23. Great estates may venture more, But little boats should keep near shore.
24. Pride that dines on vanity sups on contempt
25. Pride breakfasted with plenty, dined with poverty, and supped with infamy
26. But what madness must it be to run in debt for these superfluities!
27. When you run in debt; you give to another power over your liberty
28. The second vice is lying, the first is running in debt
29. Lying rides upon debt’s back
30. Poverty often deprives a man of all spirit and virtue: ’tis hard for an empty bag to stand upright
31. Creditors are a superstitious sect, great observers of set days and times
32. Those have a short Lent who owe money to be paid at Easter
33. The borrower is a slave to the lender, and the debtor to the creditor
34. Disdain the chain, preserve your freedom; and maintain your independency: be industrious and free; be frugal and free
35. For age and want, save while you may; No morning sun lasts a whole day
36. Gain may be temporary and uncertain, but ever while you live, expense is constant and certain
37. Tis easier to build two chimneys than to keep one in fuel
38. Rather go to bed supperless than rise in debt.
39. Get what you can, and what you get hold; ’Tis the stone that will turn all your lead into go